Silicon Valley is creeping onto the big banks’ turf. Today, for example, brokerage app Robinhood is rolling out a bank-like checking and savings service that pays surprisingly high interest rates.
Robinhood says these services will offer 3% interest, which tops every other instant-access online savings product in the US, according to Bankrate. The accounts are backed up to $250,000 by the Securities...
Fintech company Plaid just hit a key Silicon Valley milestone: a multibillion dollar valuation.
The start-up announced a $250 million funding round on Tuesday, led by Kleiner Perkins’ partner Mary Meeker, who will also be joining Plaid’s board. Andreessen Horowitz and Index Ventures were among the new investors while former backers Goldman Sachs, NEA and Spark Capital also participated.